The metacosmic concept of clothing brands such as Nike, Adi and LV

Recently, the subject of the meta-world is hot. The Meta Universe is known as the Next Generation Internet. Since the future potential of the Metaverse is not limited, many tech companies are expanding the impact of the Metaverse market one after another. Indeed, in addition to tech companies, the clothing industry is also involved in building the metaverse to get a fraction of the cookies.

Nike is actively involved in the Meta Universe platform.

Nike's entry into the meta-world dates back to 2019. In March 2019, Nike and Roblox teamed up on “Nike Air Max Day” to launch a unique virtual package. In May 2019, Nike teamed up with Fortnite, an online gaming partner with Epic, invested by Tencent, to promote the Jordan brand through in-game products. Fortnite characters wear the classic Air Jordan 1.

nike air max day

Nike and Fortnite partnership

Source : SportInsider

During October 27-28, 2021, the Nike and Jordan brands quietly applied themselves to the industry, mainly related to the sale of digital products and other services, including entertainment services, stores and "virtual worlds. online and online ". The Nike logo, logo and phrase "Just Do It" of the same name are used on virtual products. On October 23, Nike also announced recruitment information for digital product development. And after the venture capital market, that means that in addition to physical devices, Nike will continue to enter the meta world and start selling digital products.

Nike and Jordan brand commercial application

Source : site Web CNBC

Nike CEO John Donahoe (who was previously CEO of eBay, an American e-commerce company) believes that the rapid evolution of consumer digitization will continue and shape the future alongside the retail market. detail. Matt's friend, Nike's chief financial officer, once told a financial conference that Nike could achieve its vision of 40% of its digital business by 2025.

Nike also worked with the Roblox platform, Roblox, the first unit of Metaverse, to develop Nikeland. Nikeland is a virtual world with many Nike-themed homes, parking lots and playgrounds where players can participate in a variety of mini-games, a design inspired by Nike headquarters in Oregon, USA .

Users can surf the trampoline for free, gather to play hide and seek, play parkour on the glowing magma track, or even play a fun and entertaining dodge ball game.

Users can also customize their virtual avatars in Nikeland. There is a wide range of Nike sneakers, clothing and accessories to open including AirForce 1, Nike Blazer, Air Max 2021, Mercurial series sneakers and more. According to Nike, Nikeland will continue to refine its virtual reality content in the future, including, for example, adding player stars or product launches and simulating international events such as the World Cup or the Super Bowl. .

Page Nikeland

Source : Roblox

Roblox is now the most attractive platform for young people and working with Roblox will help support the power of Nike and the name of young people. A review from comScore (a news company) shows that children under 13 spend more than 50 hours on Roblox desktops each month.

Time is spent monthly by adolescents and children on each platform

Source : comScore

Matt Friend, Chief Financial Officer of Nike: With predictive design tools, individual ownership and product development, you can improve the performance of your digital business. Not only can Nikeland support Nike's digital marketing, there are plenty of followings yet to be developed. The advantages of the Nikeland design far outweigh the disadvantages of Nike.

Adidas steadily grows the Meta Universe industry

In December 2021, Adidas, one of the world's leading weavers, announced a partnership with Yuga Labs, founder of Bored Ape Yacht Club NFT, to develop a new NFT called Indigo Herz.

Adidas and Yuga Labs partner

Source : NFTStreets

In addition to its partnership with Yuga Labs, adidas is also partnering with other companies related to NFT, such as the popular NFT spin-off project Gmoney and NFT PunkComics, developed by Crypto Punks.

PunksComic is an NFT comic book series drawn by Marvel and DC cartoonist Chris Wahl. Users can purchase comics using Ethereum. According to the website guide, each series has a different protagonist making the story. The main character of each cartoon wears an Adidas outfit.

Punk comic book site

Adidas said, “Today we jumped into the meta world, and it's time to step into the limitless world. Additionally, the blockchain gaming platform Sandbox recently announced that Adidas has joined the ranks of the meta edge sandbox.

The Sandbox is an Ethereum blockchain based on a virtual meta-world that allows players to create, build, and monetize their own gaming experiences using a token, SAND, global platform. Players can also purchase in-game NFT tools, which include virtual landscapes.

tus khub sandbox

Source: Sandbox official website

In addition to working with the sandbox, adidas has also invested in “buying land” on the sandbox platform.

Adidas announces the acquisition of Sandbox Twitter

LV, NFT game released

Famous luxury LV (Louis Vuitton) recently celebrated LV Louis Vuitton's 200th anniversary and received many new ideas to pay homage to the designer, including the LV box for clothing and fun NFT games.

LV Games on the App Store

In a mobile game called Louis Vuitton, the player plays an artist Vivienne from 6 different worlds and collects 200 candles to celebrate Louis Vuitton's birthday in the game. Random LV postcard configuration for every time you pick up a candle, and the chance to experience a golden postcard is very slim. Players who win a golden postcard will be selected for a raffle and will be returned to the LV website. The prize is a 30 LV Limited NFT graphic design by artist Beeple (Mike Winkel-mann). All NFTs are collectibles and can only be viewed through the game and cannot be sold.

In Louis Game, players can walk around and pick up items. Additionally, players can modify their character using different LV characters in combination with prints and colors, and learn about the LV background by writing letters and more.

LV hopes to attract younger consumers (especially Gen Z customers) through its games. It's the first time LV has made a game, and it's free to the public. This is how LV has made a name for itself and it is a great opportunity for brands to present themselves to new customers. The popularity of this NFT game can be estimated at the time of its release, reaching such mobile games as "Glory of the King" and "Peace Elite", ranking # 1 in the IOS free games ranking. . This game is really in LV mode. Support.

In addition to the NFT game release, LV is joining the League of Legends in 2019 to create special summer skins for League of Legends heroes to revel in esports heroes. League of Legends hero Kiana becomes the first hero with an LV skin. According to netizens' calculations, Kiana's full clothes cost nearly 100,000 yuan, making her the "most expensive" skin in League of Legends history. And League of Legends only need a few tens of yuan to get the skin in the game, which is cheaper than the price of this product in real life.

Balenciaga and luxury announce their entry into the meta-world

On December 6, 2021, Balenciaga acknowledged that the BoF's VOICES company had provided the means to advance the activity of the sites. Balenciaga brand CEO Cédric Charbit highlighted the situation that today's consumers still cannot and will continue to buy after new product launches and consumers hear from them. Cédric Charbit believes that in the world of Metaverse, there are opportunities for consumers to become partners, to engage with different types of companies and to build relationships between them.

He also announced the creation of an independent sales team in the untapped digital arena of Metaverse.

Balenciaga also partnered with Fortnite in September 2021 to create new costumes and toys for the four most popular people in sports. Balenciaga has also opened a virtual in-game store, and these clothes are also sold as new Balenciaga products, allowing users to continue to merge the virtual and real world through wear and tear, such as virtual game graphics.

Balenciaga Creative Director Demna Gvasalia showcased the Fall / Winter 2021/22 season in a video game, a change that was welcomed by media and audiences alike.

Balenciaga launches Spring / Winter 2021/22 series via video games

In addition to Balenciaga, Gucci announced its partnership with Roblox to host the virtual reality show. Gucci's parent company, OTB Group, formed the new company to develop the meta-global strategy. In early 2021, Gucci developed virtual sneakers, priced at $ 12.99 (82 yuan) each. After purchasing the virtual shoes, users can use the Gucci app and the VR VRCHAT social platform or try it out on the Roblox gaming platform.

Gucci virtual sneakers

At the Electronic Entertainment Expo 2021 in Los Angeles, Burberry announced that it has partnered with Mythiacal Games to develop a minimal NFT design for the blockchain game Blankos Block Party. Players will be able to buy, modify and sell the NFT developed in the game. Burberry also announced that it will strengthen its partnership with Mythiacal Games and announce additional NFT accessories such as jetpacks, clothing and sandals. We can see that Burberry has already developed a product related to meta-edge.

Meta Universe Luxury Market

Morgan Stanley, a leading US conglomerate, has released research data indicating that the luxury NFT market could reach $ 56 billion by 2030. Metaverse availability, luxury NFT demand could also increase . It may also explain why many luxury brands have adopted related business such as Yuan Universe.

Morgan Stanley analyst Edward Stanley estimates the NFT market will reach around $ 240 billion by 2030, with luxury digital assets accounting for 8% of the market.

Luxury brands were hit hard by the recession after starting a new business in 2020. Following the large European market as an example, FortuneBusiness Insights estimates that it will take seven years to market the resale copy to spread before the level of 2019. According to Brand Finance estimates, the top 50 luxury brands in the world lost a total of $ 7.6 billion on the acquisition.

european luxury store

: FortuneBusiness Insights

Bain Luxury Research, co-edited by international consultancy Bain Capital and Italian luxury agency Fondagione Alta Gamma, noted that global luxury sales were down 23% from last year due to the impact new diseases in 2020. 2019. € 217 billion.

According to financial data from global luxury group LVMH, key data for 2020 as a whole shows that sales fell 17% year-over-year, other operating profits fell 28%, and revenues fell 34%. Donations were down 1% from the same period last year and net debt was down 32% from the same period last year.

Finding a change or a different market when the industry is affected has also become a big challenge for all kinds of luxury and leisure clothing. Digitization also improves your brand.

In the past, the Internet was mainly a simple card. The meta-world can expand into three dimensions. It allows people to have a pattern and a dress, which gives a good opportunity for luxury.

Merchants can sell virtual goods in the virtual world, thereby increasing their income through physical stores. The growth of the Meta Universe will bring a new e-commerce ecosystem and enhance the efficiency and effectiveness of the entire retail market. Selling an additional virtual commercial product is a matter of course for the brand, which helps the retailer to profit from it. The high incomes have caused many names to be resolved in the virtual world, creating a positive circle.

The products that people are looking for in the real world are also sourced from the virtual world. If a business sells virtual goods in the virtual world in limited quantities like recently popular NFT avatars (CryptoPunks, Apes avatars BAYC, etc.). .) or virtual av. Searching for heritage or rare items in the virtual world is the same as looking for inspiration behind the real world: something special.

Morgan Stanley points out in a research report that “Fortnite” and the digital retailers of the Roblox platform could see signs of further acquisitions on the exchange. Revenue sharing has increased and could add up to $ 10 billion to $ 20 billion in total company capacity. NFTs and the sports community are expected to increase the group's luxury market capacity by more than 10% in eight years and boost interest rates and tax revenues in commerce by as much as 25%.